Related Keywords: ethylene, ethylene glycol project, Formosa Plastics Group, investment in US, shale energy revolution, Wang Wen-yuan
Formosa Plastics Group, Taiwan's petrochemical giant, has drawn up plans to invest US$2 billion into its US investment projects to capitalise on North America's shale energy revolution, a daily reported on 9 November.
According to Wang Wen-yuan, director of the group, the investment was encouraged by cheap supplies of natural gas, said Economic Daily News and Apple Daily. Ethylene, an organic compound widely used in chemical industry, produced from shale gas costs only US$300 per tonne, compared with US$900 per tonne from oil, Wang said..
